Bankwest logo

Bankwest Term Deposit

Advertiser disclosure
Best rate (up to 1 year)
4.80% p.a.9 months ($1,000 to $10,000,000)
Minimum Deposit
$1,000.00
Interest paid to another bank?
yes

Mozo editorial review Bankwest Term Deposit - last updated: 18 March 2024

binocular icon
What's hot
  • 4.80% p.a. for 9-month term
  • $1,000 minimum deposit
What's not
  • 31 days' notice for withdrawal
Mozo snapshot

If you have a large sum of cash to stow away from a set period of time, then check out the Bankwest Term Deposit. You can open an account with a $1,000 deposit to earn 2.00% p.a. in interest for a 1-month or 4.80% p.a. for a 9-month term.

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Key features

Bankwest offers you a wide range of term lengths to stash away any extra funds from as short as 1 month up to 5 years. You can open an account with a minimum of $1,000 and up to $10 million, and earn an interest rate between 2.00% and 4.80% depending on the term length you chose. 

Plus, this online term deposit comes with an automatic rollover feature, which allows you to start another term deposit without contacting Bankwest. Another neat feature is that you can get interest paid to any bank of your choice. 

Remember that if you want to withdraw money before its maturity date, you must give Bankwest 31 days' notice.

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Who is it good for

Bankwest Online Term Deposit could be a great option for Aussies looking to temporarily park some money and earn a high interest rate.

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Any catches

Unfortunately, if you ever need to withdraw before the maturity date, you’ll need to give Bankwest a written notice 31 days in advance.

Details

Rates and fees information correct as at 27 May 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

2.00% p.a. ($1,000 to $10,000,000)

2.00% p.a. ($1,000 to $10,000,000)

3.75% p.a. ($1,000 to $10,000,000)

3.00% p.a. ($1,000 to $10,000,000)

3.00% p.a. ($1,000 to $10,000,000)

4.25% p.a. ($1,000 to $10,000,000)

4.00% p.a. ($1,000 to $10,000,000)

4.00% p.a. ($1,000 to $10,000,000)

4.80% p.a. ($1,000 to $10,000,000)

4.00% p.a. ($1,000 to $10,000,000)

4.00% p.a. ($1,000 to $10,000,000)

4.75% p.a. ($1,000 to $10,000,000)

4.40% p.a. ($1,000 to $10,000,000)

4.00% p.a. ($1,000 to $10,000,000)

4.00% p.a. ($1,000 to $10,000,000)

4.00% p.a. ($1,000 to $10,000,000)

Other financial bits

$1,000.00

$10,000,000.00

Features

yes

yes

Must link to transaction account with Bankwest or another financial institution to transfer funds. 31 days notice required if customers want to withdraw their funds before the maturity date.

none

Different interest rates apply to different amounts or different interest payment frequencies.

Customer Reviews

How are Bankwest term deposits rated by the Mozo community?

Overall
7.7/10
Price
7.6/10
Features
6.9/10
Customer service
7.6/10
Convenience
7.6/10
Trust
7.7/10
Based on 171 Bankwest term deposit reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Latest reviews of Bankwest Term Deposit

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Yes up to $250,000

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Yes up to $250,000

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Yes up to $250,000

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$1,000.00

Yes up to $250,000

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Yes up to $250,000

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Yes up to $250,000

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Yes up to $250,000

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Yes up to $250,000

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